Coro Mining closes $2.34M 1st tranche of private placement

Vancouver (pcJ News Briefs) – Coro Mining Corp. (TSX: COP) has completed partial close of the first tranche of previously announced non-brokered private placement, issuing 15,591,666 common shares at $0.15 per common share for gross proceeds of approximately C$2,338,750.

The remaining portion of the first tranche will be subscribed for by Greenstone Resources L.P., the company’s major shareholder.

It is anticipated that the second tranche, being 32,152,870 common shares, will close during April, 2017.

Proceeds will be used to fund the acquisition of Minera Rayrock Ltda., continued exploration of the Marimaca Project and working capital purposes.

photo credit: Coro Mining